Market Overview:
The global machining tool steel market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for machining tool steel from various end-use industries, such as automotive, pharmaceuticals, aerospace, shipbuilding and others. In terms of type, the vinyl segment is projected to lead the global machining tool steel market during the forecast period due to its properties such as high toughness and wear resistance. In terms of application, automotive is projected to be one of the fastest-growing segments in the global machining tool steel market during 2018–2030 owing to rising demand for lightweight vehicles across regions.
Product Definition:
Machining tool steel is a type of steel that is particularly well-suited for use in machining applications. It has good toughness and wear resistance, and can be machined to very tight tolerances. Machining tool steel is often used in the manufacture of cutting tools, dies, and other precision parts.
Vinyl:
Vinyl is a polymer and it's also an excellent plastic for tooling. It has the ability to produce high-quality molds of complex shapes, which makes it suitable for making machine tools. Vinyl can be used as an alternative or supplement to other plastics such as polycarbonate and polyethylene in various applications including mold making, prototype modeling, engineering & design services along with production of automotive components & electronics housing designs.
Acrylic:
Acrylic is a type of polymer, which is soluble in alcohol and water. It has a low molecular weight and three-dimensional cross-linked structure. The product finds application as an additive for tool steels to improve their wear resistance, toughness, hardness, and surface finish properties. Acrylic polymers are used in various industries including automotive & transportation; building & construction; electrical & electronics; consumer goods; medical devices manufacturing among others.
Application Insights:
The automotive application segment accounted for the largest volume share of over 30% in 2017. The growth can be attributed to increasing demand for lightweight machining tools, which reduces the overall vehicle weight and improves fuel efficiency. Furthermore, rising sales of passenger cars and light commercial vehicles are expected to augment demand over the forecast period.
Automotive components such as engine parts, transmission components and others are manufactured using steel alloys owing to their strength properties. These properties allow them to perform at elevated temperatures without undergoing any transformation or change in its physical properties such as hardness or ductility & elasticity when compared with other materials used in their manufacturing counterparts including aluminum & magnesium alloys.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period. The growth can be attributed to increasing demand from end-use industries, such as aerospace and shipbuilding. In addition, rapid industrialization in emerging economies of India and China are anticipated to fuel market growth in Asia Pacific during the forecast period.
The North American market was valued at USD X million in 2017 owing to high consumption of metal cutting tools across a wide range of industries including automotive, consumer goods manufacturing and others. However, stringent government regulations regarding carbon emissions coupled with environmental concerns are likely to hamper industry growth over the next eight years.
Growth Factors:
- Increasing demand for machining tool steel from the automotive and aerospace industries due to the growing need for high-performance materials.
- Rising demand for customized tools owing to the increasing trend of mass customization in manufacturing.
- Growing popularity of coated and specialized tool steels that offer better wear resistance and toughness as compared to uncoated tool steels.
- Technological advancements in machining processes that are resulting in increased demand for high-quality machining tool steel products.
Scope Of The Report
Report Attributes
Report Details
Report Title
Machining Tool Steel Market Research Report
By Type
Vinyl, Acrylic, Cellulosic, Polyethylene
By Application
Automotive, Pharmaceutical, Aerospace, Ship Building, Others
By Companies
Ashland, Bemis Company, General Chemical Corporation, DuPont, Cal-West Specialty Coatings, Spraylat International, PPG Industries, Sherwin-Williams, Covestro, Kraton Corporation
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
132
Number of Tables & Figures
93
Customization Available
Yes, the report can be customized as per your need.
Global Machining Tool Steel Market Report Segments:
The global Machining Tool Steel market is segmented on the basis of:
Types
Vinyl, Acrylic, Cellulosic, Polyethylene
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Pharmaceutical, Aerospace, Ship Building, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Ashland
- Bemis Company
- General Chemical Corporation
- DuPont
- Cal-West Specialty Coatings
- Spraylat International
- PPG Industries
- Sherwin-Williams
- Covestro
- Kraton Corporation
Highlights of The Machining Tool Steel Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Vinyl
- Acrylic
- Cellulosic
- Polyethylene
- By Application:
- Automotive
- Pharmaceutical
- Aerospace
- Ship Building
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Machining Tool Steel Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Machining tool steel is a type of steel that is used in machining tools. It has a higher carbon content than other types of steel, which makes it stronger and more durable.
Some of the major players in the machining tool steel market are Ashland, Bemis Company, General Chemical Corporation, DuPont, Cal-West Specialty Coatings, Spraylat International, PPG Industries, Sherwin-Williams, Covestro, Kraton Corporation.
The machining tool steel market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Machining Tool Steel Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Machining Tool Steel Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Machining Tool Steel Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Machining Tool Steel Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Machining Tool Steel Market Size & Forecast, 2020-2028
4.5.1 Machining Tool Steel Market Size and Y-o-Y Growth
4.5.2 Machining Tool Steel Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Vinyl
5.2.2 Acrylic
5.2.3 Cellulosic
5.2.4 Polyethylene
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automotive
6.2.2 Pharmaceutical
6.2.3 Aerospace
6.2.4 Ship Building
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Machining Tool Steel Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Machining Tool Steel Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Vinyl
9.6.2 Acrylic
9.6.3 Cellulosic
9.6.4 Polyethylene
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automotive
9.10.2 Pharmaceutical
9.10.3 Aerospace
9.10.4 Ship Building
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Vinyl
10.6.2 Acrylic
10.6.3 Cellulosic
10.6.4 Polyethylene
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automotive
10.10.2 Pharmaceutical
10.10.3 Aerospace
10.10.4 Ship Building
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Vinyl
11.6.2 Acrylic
11.6.3 Cellulosic
11.6.4 Polyethylene
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automotive
11.10.2 Pharmaceutical
11.10.3 Aerospace
11.10.4 Ship Building
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Vinyl
12.6.2 Acrylic
12.6.3 Cellulosic
12.6.4 Polyethylene
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automotive
12.10.2 Pharmaceutical
12.10.3 Aerospace
12.10.4 Ship Building
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Vinyl
13.6.2 Acrylic
13.6.3 Cellulosic
13.6.4 Polyethylene
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automotive
13.10.2 Pharmaceutical
13.10.3 Aerospace
13.10.4 Ship Building
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Machining Tool Steel Market: Competitive Dashboard
14.2 Global Machining Tool Steel Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ashland
14.3.2 Bemis Company
14.3.3 General Chemical Corporation
14.3.4 DuPont
14.3.5 Cal-West Specialty Coatings
14.3.6 Spraylat International
14.3.7 PPG Industries
14.3.8 Sherwin-Williams
14.3.9 Covestro
14.3.10 Kraton Corporation
